/biz/ - Business & Finance

>>	Anonymous Mon May 11 22:47:04 2020 No.19030418 [View] File: 204 KB, 1500x1000, D6409EFB-5865-4261-9288-9F7544FD7610.jpg [View same] [iqdb] [saucenao] [google] I only have oil stonks. XOM/OILK. Outlook for 30 days?

Anonymous Wed Mar 4 16:33:23 2020 No.17580086 [View]
File: 204 KB, 1500x1000, oil_offshore.jpg [View same] [iqdb] [saucenao] [google]

>>17579850
>oil continues to stumble
As discussed in previous thread, this is a complicated situation for oil with OPEC meetings ongoing this week. Quick rundown on the negotiations:
>Saudis want to cut real bad. By a lot. 1.2 million bpd.
>Libya doesn't want to as they already lost a million bpd due to the port blockades
>Putin hedging but is on record this week suggesting willingness to cooperate with OPEC on cuts
>Iraq are being bitches as usual and not complying (this is definitely priced in)

More news from Vienna should be out tomorrow. A decision or break down of talks should be confirmed by Friday.

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